International Commercial Bank (ICB) is committed to maintaining the highest standards of financial integrity and preventing its services from being used for money laundering, terrorist financing, and other illicit financial activities. This Anti-Money Laundering (AML) policy outlines the framework for compliance with local and international regulations, ensuring that ICB operates within legal and ethical boundaries.
ICB adheres to the AML laws and regulations of all jurisdictions in which it operates, including but not limited to:
ICB ensures that its policies align with global best practices, including Know Your Customer (KYC), risk-based due diligence, and transaction monitoring.
ICB follows a robust KYC process to verify the identity of customers before establishing any financial relationship. The key components include:
ICB has a system in place for monitoring customer transactions to detect and report suspicious activities. This includes:
ICB maintains all customer records, transaction data, and compliance reports for the required period as per regulatory guidelines. These records include:
ICB ensures that its employees are well-trained in AML procedures. This includes:
ICB strictly adheres to international sanctions lists, including those issued by:
ICB ensures that no business relationship is established with sanctioned individuals, entities, or countries.
Any employee or customer found violating AML policies may face disciplinary action, account suspension, or legal penalties. Non-compliance with AML laws may result in severe regulatory sanctions for ICB.
ICB is committed to financial transparency and preventing illicit financial activities. This AML policy serves as a cornerstone of our compliance framework, ensuring a secure banking environment for all stakeholders.
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